Indus Towers Ltd.

Bharti Infratel has extended the deadline for merger with Indus Towers by over two months till August 31. The decision was taken by the board of the company, which met on June 24, 2020 and took note of the status of the scheme of arrangement between Indus and Bharti Infratel.

Since the conditions precedent to be fulfilled for the scheme to become effective cannot be completed by the extended Long Stop Date that is June 24, 2020, the board of directors has further extended the long stop date till August 31, 2020, subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme.

Bharti Infratel is a provider of tower and related infrastructure, and deploys, owns and manages telecom towers and communication structures for various mobile operators.